Northern Trust Corp boosted its stake in Scholastic Corporation (NASDAQ:SCHL) by 6.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,216,072 shares of the company’s stock after buying an additional 72,150 shares during the period. Northern Trust Corp owned approximately 3.52% of Scholastic Corporation worth $47,866,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. California State Teachers Retirement System raised its stake in shares of Scholastic Corporation by 1.1% in the third quarter. California State Teachers Retirement System now owns 57,324 shares of the company’s stock valued at $2,256,000 after buying an additional 600 shares in the last quarter. Hancock Holding Co. purchased a new stake in shares of Scholastic Corporation during the third quarter valued at about $945,000. Boston Partners raised its stake in shares of Scholastic Corporation by 6.0% in the third quarter. Boston Partners now owns 237,294 shares of the company’s stock valued at $9,340,000 after buying an additional 13,419 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Scholastic Corporation during the third quarter valued at about $258,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Scholastic Corporation by 3.5% in the third quarter. Ameriprise Financial Inc. now owns 132,970 shares of the company’s stock valued at $5,233,000 after buying an additional 4,455 shares during the last quarter. 79.87% of the stock is owned by institutional investors and hedge funds.
Shares of Scholastic Corporation (NASDAQ:SCHL) traded down 0.67% during mid-day trading on Friday, reaching $45.79. The company’s stock had a trading volume of 46,865 shares. The company has a market cap of $1.58 billion, a PE ratio of 30.14 and a beta of 0.95. Scholastic Corporation has a 52-week low of $33.05 and a 52-week high of $49.38. The company has a 50-day moving average price of $46.83 and a 200 day moving average price of $41.96.
Scholastic Corporation (NASDAQ:SCHL) last issued its quarterly earnings results on Thursday, December 15th. The company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.92 by $0.07. Scholastic Corporation had a net margin of 2.98% and a return on equity of 5.71%. The business had revenue of $623.10 million for the quarter. During the same period in the previous year, the business posted $1.89 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities analysts expect that Scholastic Corporation will post $1.69 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, January 31st will be given a dividend of $0.15 per share. The ex-dividend date is Friday, January 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.30%. Scholastic Corporation’s payout ratio is 40.54%.
Several analysts have weighed in on the company. TheStreet upgraded Scholastic Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, November 8th. Zacks Investment Research downgraded Scholastic Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 24th.
In other news, Director John L. Davies sold 6,243 shares of the stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $47.69, for a total transaction of $297,728.67. Following the transaction, the director now owns 1,089 shares of the company’s stock, valued at $51,934.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Maureen Oconnell sold 33,267 shares of the stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $48.05, for a total transaction of $1,598,479.35. Following the transaction, the chief financial officer now directly owns 57,799 shares in the company, valued at approximately $2,777,241.95. The disclosure for this sale can be found here. Insiders have sold 172,362 shares of company stock worth $8,164,534 in the last ninety days. Corporate insiders own 24.16% of the company’s stock.
About Scholastic Corporation
Scholastic Corporation is a publisher and distributor of children’s books, a provider of print and digital instructional materials for pre-kindergarten (pre-K) to grade 12, and a producer of educational and entertaining children’s media. The Company operates through three segments: Children’s Book Publishing and Distribution, Education and International.
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